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In May, the US Senate's finance committee chairman Charles Grassley unveiled for Finance Committee consideration a $350 billion growth bill incorporating $413 billion in tax cuts and $63 billion in tax increases as part of the economic growth tax-cut bill that was signed into law on by presiden...

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Bibliographic Details
Published in:Asset Finance International 2003-06, p.1
Main Author: Kies, Ken
Format: Article
Language:English
Subjects:
Bills
Congressional committees
Donations
Economic growth
Economic policy
Economic substance doctrine
Financial services
Language
Leases
Leasing
Legislation
Lessors
Low income groups
Low income housing credit
Near death experiences
Present value
Purchase options
Tax benefits
Tax credits
Tax cuts
Tax incentives
Tax increases
Taxpayers
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Summary:In May, the US Senate's finance committee chairman Charles Grassley unveiled for Finance Committee consideration a $350 billion growth bill incorporating $413 billion in tax cuts and $63 billion in tax increases as part of the economic growth tax-cut bill that was signed into law on by president George Bush. One of the increases would have clarified the economic substance doctrine, a proposal scored as raising $14 billion over 10 years. Versions of the proposal have been approved by the finance committee before, and each was cause for significant leasing industry concern. But unlike prior versions, the proposal approved by the Finance Committee would have brought big-ticket leasing transactions to a grinding halt.
ISSN:1367-8086